COMMERZBANK IN CONTACT WITH GERMAN REGULATOR ON UNICREDIT STAKE BUILDUP
- NEWS Desk Global
- 7 hours ago
- 1 min read
Commerzbank is in contact with German regulator BaFin about recent disclosures by Italy's UniCredit about the take-up of its tender offer for the German lender, according to a notice to staff seen by Reuters on Wednesday.
The message to staff on Tuesday said UniCredit's communication appeared to be misleading, asserting that it wasn't "economically rational" for investors to have tendered a cumulative stake of 7.58%, as reported by UniCredit, given that the Italian bank's offer price is below the market price.
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